Know the three types of long-term debt. Be able to complete a loan amortization schedule, the payment, if necessary, the interest expense for any payment period, the decrease in the principal and the principal after the payment has been made. Know the bond terms and be able to apply them. Be able to determine the cash flows offered by a bond. Be able to determine if a bond will be issued at a premium, at face, or at a discount. Determine the issue price of a bond. Be able to amortize the premium or discount by using the effective interest amortization schedule. Be able to determine interest expense for any payment period, the amount of the "difference" being amortized, and the new carrying value (bond liability) after the interest payment is made, for any time period. How to retire a bond at maturity.